NMI (NASDAQ:NMIH) Trading Down 3.9% – What’s Next?

Shares of NMI Holdings, Inc. (NASDAQ:NMIH) dropped 3.9% during mid-day trading on Friday . The stock traded as low as $37.15 and last traded at $37.17. Approximately 44,893 shares were traded during trading, a decline of 91% from the average daily volume of 526,591 shares. The stock had previously closed at $38.68.

Analyst Upgrades and Downgrades

NMIH has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Truist Financial increased their price objective on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Finally, Barclays increased their price objective on shares of NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, NMI currently has an average rating of “Moderate Buy” and a consensus target price of $43.43.

NMI Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50 day simple moving average of $40.47 and a 200-day simple moving average of $36.58. The stock has a market cap of $2.93 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 0.88 and a beta of 1.13.

Insider Activity at NMI

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the transaction, the insider now owns 153,689 shares in the company, valued at approximately $6,158,318.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is owned by company insiders.

Institutional Trading of NMI

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of NMI by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock valued at $255,000 after buying an additional 666 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of NMI by 47.0% during the 1st quarter. BNP Paribas Financial Markets now owns 90,240 shares of the financial services provider’s stock valued at $2,918,000 after buying an additional 28,853 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of NMI during the 1st quarter valued at $31,000. Daiwa Securities Group Inc. lifted its holdings in shares of NMI by 588.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the financial services provider’s stock valued at $201,000 after buying an additional 5,300 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of NMI by 14.9% during the 1st quarter. Jennison Associates LLC now owns 51,705 shares of the financial services provider’s stock valued at $1,672,000 after buying an additional 6,695 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.